JOINT PRESS RELEASE THE NATIONAL BANK OF CAMBODIA FORMALLY JOINS THE REGIONAL PAYMENT CONNECTIVITY INITIATIVE
Joint Press Release | 08 Apr 2025
The National Bank of Cambodia (NBC), the central bank of Cambodia, has officially joined the Regional Payment Connectivity (RPC) initiative, further strengthening regional financial integration in Southeast Asia. The NBC’s inclusion in the RPC follows its formal expression of interest to be part of the initiative. The NBC announced its participation in the fourth supplemental pages of the Memorandum of Understanding on Cooperation in Regional Payment Connectivity (MOU RPC) during the launch of the second phase of the Malaysia-Cambodia cross-border QR payment linkage on 8 April 2025, at the sidelines of the 12th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting in Kuala Lumpur, Malaysia.
The NBC’s inclusion into the RPC initiative brings the total number of signatories to nine ASEAN central banks. First established in 2022 by the central banks of Indonesia, Malaysia, the Philippines, Singapore and Thailand, the RPC Initiative has since been expanded to include Vietnam in August 2023, as well as Brunei Darussalam and Lao PDR in February and April 2024, respectively. This growing participation of the RPC initiative underscores its potential for further expansion within ASEAN and beyond to enhance collaboration on regional payment connectivity and foster greater financial integration within the region.
The RPC initiative aims to promote, faster, cheaper, more transparent and more inclusive cross-border payments. Since its inception, it has fostered and accelerated the development of cross-border payment connectivity in the region through, among others, quick response (QR) code-based payment and fast payment modalities. By promoting seamless cross-border transactions in the region, the RPC initiative supports broader economic activities in ASEAN, including greater market access for small and medium-sized enterprises (SMEs), enhanced trade facilitation, and improved remittance flows.
H.E. Dr. Chea Serey, the Governor of the NBC, stated that, “Participating in the RPC initiative will foster regional economic growth and establish a more interconnected payment system within ASEAN.
Bank Indonesia
Bank Negara Malaysia
Bangko Sentral ng Pilipinas
Monetary Authority of Singapore
Bank of Thailand
State Bank of Vietnam
Brunei Darussalam Central Bank
Bank of the Lao PDR
National Bank of Cambodia
8 April 2025
For media enquiries, please contact : |
Bank Indonesia Head of Communication Department Ramdan Denny Prakoso Executive Director Tel: (+62 21) 131 Email:bicara@bi.go.id |
Bank Negara Malaysia Strategic Communications Department |
Bangko Sentral ng Pilipinas Communication Office Email:communicationoffice@bsp.gov.ph Payments Policy and Development Department Director Email:ppdd@bsp.gov.ph |
Monetary Authority of Singapore Corporate Communications Division Jacqueline Ong Deputy Director |
Bank of Thailand Payment Systems and Financial Technology Policy Department |
State Bank of Vietnam Department of International Cooperation 25 Ly Thuong Kiet, Hoan Kiem, Ha Noi Email:ieod@sbv.gov.vn |
Brunei Darussalam Central Bank Corporate Communications Managing Director’s Office Tel: +673 831 8388 Email:corpcomms@bdcb.gov.bn |
Bank of the Lao PDR International Cooperation Department Tel: +856 21 213120 Email:icd@bol.gov.la |
National Bank of Cambodia Communication Unit of the National Bank of Cambodia Tel: (855) 23 990 196 |